Multiple Choice Questions on P 39 a minor is admitted to the benefits of partnership P tells M that she has decided to become a p........... for Judicial Services (Master) Preparation

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Multiple Choice Questions

P 39 a minor is admitted to the benefits of partnership P tells M that she has decided to become a p...........

Indian Partnershoip Act (IPA) 1930 Others
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    P, 'a minor is admitted to the benefits of partnership. P tells M that she has decided to become a partner in the firm. M having faith therein gives credit to the firm. P, on attaining majority, opts not to become a partner. M sues P. 

    Mwili succeed on the ground of 'holding out' on P's part. 

    Incorrect Answer

    If P had opted to become a partner then also P will be liable. 

    Incorrect Answer

    M will not succeed because the doctrine of holding out is inapplicable to a minor. 

    Incorrect Answer

    Both (a) and (b). 

    Correct Answer
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    Explanation:

    Both (a) and (b). 

    By: santosh
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